Kroger (KR) Lowered to “Underperform” at Wolfe Research

Wolfe Research lowered shares of Kroger (NYSE:KR) from a market perform rating to an underperform rating in a research report report published on Monday morning, The Fly reports.

Several other equities analysts also recently weighed in on KR. Royal Bank of Canada reaffirmed an outperform rating and issued a $38.00 price objective on shares of Kroger in a research note on Wednesday, February 28th. Zacks Investment Research raised Kroger from a hold rating to a buy rating and set a $30.00 price objective for the company in a research note on Friday, March 2nd. BMO Capital Markets set a $31.00 target price on Kroger and gave the company a hold rating in a report on Friday, March 2nd. Pivotal Research reiterated a buy rating and set a $28.00 target price (down previously from $32.00) on shares of Kroger in a report on Tuesday, March 6th. Finally, TheStreet cut Kroger from a b rating to a c+ rating in a report on Monday, March 5th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Kroger presently has a consensus rating of Hold and an average target price of $28.15.

NYSE KR opened at $29.33 on Monday. Kroger has a 1-year low of $19.69 and a 1-year high of $31.45. The company has a market capitalization of $23.87 billion, a P/E ratio of 14.38, a PEG ratio of 2.23 and a beta of 1.03. The company has a quick ratio of 0.29, a current ratio of 0.76 and a debt-to-equity ratio of 1.74.

Kroger (NYSE:KR) last released its quarterly earnings data on Thursday, June 21st. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.10. Kroger had a return on equity of 29.59% and a net margin of 2.93%. The firm had revenue of $37.53 billion during the quarter, compared to the consensus estimate of $37.25 billion. During the same period last year, the business posted $0.58 EPS. Kroger’s quarterly revenue was up 3.4% on a year-over-year basis. equities research analysts expect that Kroger will post 2.09 EPS for the current fiscal year.

Kroger announced that its board has initiated a stock repurchase program on Thursday, March 15th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Several hedge funds have recently bought and sold shares of KR. Advisory Services Network LLC boosted its holdings in shares of Kroger by 297.2% during the fourth quarter. Advisory Services Network LLC now owns 3,773 shares of the company’s stock worth $104,000 after purchasing an additional 2,823 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Kroger by 51.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 179,552 shares of the company’s stock worth $4,929,000 after purchasing an additional 60,625 shares during the last quarter. Systematic Financial Management LP acquired a new stake in shares of Kroger during the fourth quarter worth $1,318,000. State of Tennessee Treasury Department boosted its holdings in shares of Kroger by 75.3% during the fourth quarter. State of Tennessee Treasury Department now owns 427,931 shares of the company’s stock worth $11,747,000 after purchasing an additional 183,774 shares during the last quarter. Finally, Spark Investment Management LLC boosted its holdings in shares of Kroger by 10.3% during the fourth quarter. Spark Investment Management LLC now owns 20,318 shares of the company’s stock worth $557,000 after purchasing an additional 1,900 shares during the last quarter. Institutional investors and hedge funds own 81.21% of the company’s stock.

Kroger Company Profile

The Kroger Co, together with its subsidiaries, operates as a retailer in the United States. It also manufactures and processes food products for sale in its supermarkets. The company operates supermarkets, multi-department stores, jewelry stores, and convenience stores. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; multi-department stores provide general merchandise items, such as apparel, home fashion and furnishings, outdoor living, electronics, automotive products, toys, and fine jewelry; and price impact warehouse stores offer grocery, and health and beauty care items, as well as meat, dairy, baked goods, and fresh produce items.

The Fly

Analyst Recommendations for Kroger (NYSE:KR)

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